Synovus Financial Corp Increases Stock Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Synovus Financial Corp boosted its stake in Xcel Energy Inc. (NASDAQ:XEL) by 17.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,795 shares of the company’s stock after acquiring an additional 873 shares during the quarter. Synovus Financial Corp’s holdings in Xcel Energy were worth $378,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integris Wealth Management LLC lifted its position in shares of Xcel Energy by 2.7% in the third quarter. Integris Wealth Management LLC now owns 6,163 shares of the company’s stock valued at $402,000 after acquiring an additional 163 shares in the last quarter. Bond & Devick Financial Network Inc. increased its position in shares of Xcel Energy by 1.1% during the third quarter. Bond & Devick Financial Network Inc. now owns 15,972 shares of the company’s stock worth $1,043,000 after purchasing an additional 168 shares in the last quarter. LRI Investments LLC raised its stake in Xcel Energy by 5.9% in the 3rd quarter. LRI Investments LLC now owns 3,037 shares of the company’s stock valued at $209,000 after purchasing an additional 170 shares during the last quarter. Gateway Wealth Partners LLC lifted its holdings in Xcel Energy by 4.3% in the 2nd quarter. Gateway Wealth Partners LLC now owns 4,413 shares of the company’s stock valued at $236,000 after purchasing an additional 182 shares in the last quarter. Finally, Sumitomo Life Insurance Co. lifted its holdings in Xcel Energy by 2.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,591 shares of the company’s stock valued at $430,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Stock Down 2.5 %

Shares of NASDAQ:XEL opened at $66.40 on Thursday. The business has a 50-day moving average price of $67.54 and a 200 day moving average price of $61.67. Xcel Energy Inc. has a 12-month low of $46.79 and a 12-month high of $73.38. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $38.13 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 2.79 and a beta of 0.41.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.93 billion. Xcel Energy’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share. Sell-side analysts expect that Xcel Energy Inc. will post 3.54 EPS for the current year.

Xcel Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Monday, January 6th will be given a dividend of $0.5475 per share. This represents a $2.19 annualized dividend and a dividend yield of 3.30%. Xcel Energy’s dividend payout ratio is currently 64.99%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on XEL shares. Wells Fargo & Company raised their price target on shares of Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. KeyCorp raised their target price on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Argus upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Monday, August 26th. Jefferies Financial Group raised Xcel Energy from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $71.00 to $76.00 in a research note on Friday, November 1st. Finally, UBS Group raised their target price on Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.17.

Xcel Energy Profile

Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.